Variable Rate Home Loans


This is a common offer by banks and has been used by many people to buy their first homes. These home loans have repayment periods of up to 30 years and are regularly used by home buyers today.

Don't be caught by start-up lures!

Often lending institutions will offer a discounted start-up period with lower interest rates to motivate you to choose the loan.

The benefits of this discount (or honeymoon period) are short-lived as the remaining years on your loan are charged at a standard variable rate.

 

Advantages

  • Discipline - regular monthly, fortnightly or weekly repayments help you with budgeting.
  • Redraw - most institutions will allow you (subject to terms and conditions) to withdraw additional repayments you have made over and above the minimum repayment.
  • Offset - it may have the ability to offset credit balances held in other accounts at the same institution against the principal of the loan.
  • Extra repayments - these are usually allowed at any time.

 Disadvantages

  • The interest rate is variable (apart from any start-up period) and the loan will be subject to interest rate fluctuations.
  • The interest rate is always higher than Low Frills Home Loan rates.

Other Home Loans you may wish to consider or research:
Basic Home Loan
Fixed Rate Home Loan
Line of Credit
Professional Home Loan Package
Split Rate Home Loan

Like to know more about the home loan process then review our Guide to Home Loans.

If you would like to discuss a Variable Rate Home Loan  or any other loan products please call us or complete the form below and we will contact you.

Office Contact Details

Phone: 02 - 4272 8250

Fax:
      02- 4271-8567


General Information:

Direct Email:


info@cfsfinance.com.au

david@cfsfinance.com.au

Contact Us

First Name *

Last Name *

Email Address *       

Best Contact Number*

Brief Description of Enquiry *

 * Mandatory field

Enter Word Verification in Box*
Captcha Image



Like To Get Your
Mortgage underway?

To help us help you we have developed an online application form that collects all the necessary information we need  to assess your situation. Please take the time to complete online, its secure and easy to complete. We will receive a confirmation through our system and will contact you to discuss your situation in more detail. It only takes a few minutes to complete. Just simply click the apply online button.

Apply Online for your Home Loan
Free Home Buyers Guide
Get Now

Includes

  • Hints in the buying process
  • 10 steps to buying a home
  • Apply for a loan
  • Jargon Buster
Captcha Image

 

 
David Carruthers is a credit representative (Credit Representative Number [400226]) of BLSSA Pty Ltd (Australian Credit Licence No. 391237).